EXTENSION AGREEMENT
WHEREAS, Xxxxxxxx Industries, Inc., an Oklahoma corporation, (“Buyer”) and Xxxx Xxxxxx, an individual resident in New York, (“Seller”) are parties to a Stock Purchase Agreement (the “Agreement”) dated as of December 29, 2006; and
WHEREAS, Section 2.3 of the Agreement provide for a closing on or before March 15, 2007; and
WHEREAS, Buyer and Seller desire to extend the closing date; and
NOW THEREFORE, the parties hereby agree;
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1. |
The date of Closing provided for in the Agreement is hereby extended until May 18, 2007. |
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2. |
As compensation for this agreement to extend the closing date Xxxxxxxx Industries shall pay Xxxx Xxxxxx $50,000 (Fifty thousand dollars) at closing. |
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3. |
The discussions and commitments in our January 9, 2007 letter (attached) remain valid and binding. |
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4. |
Typographical errors and formatting in the original document will be corrected in a final document coordinated between counsels by April 15th 2007. |
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5. |
The original agreement and the extension are under the jurisdiction of New York law. |
In witness thereof, the parties have executed and delivered this extension agreement as of the 21st day of March, 2007.
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“Buyer” |
XXXXXXXX INDUSTRIES, INC.
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By: |
/s/ Xxxxxx Xxxx |
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Xxxxxx Xxxx |
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“Seller” |
XXXX XXXXXX
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By: |
/s/ Xxxx Xxxxxx |
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Xxxx Xxxxxx |
